ES Journal Archive (2011)

[bigsnack]

Quote from BoyPlunger:

that is the understatement of the year. i'm not sure the average person would interpret it well however.

Yeah agreed. If you believe in it though, today might have been the day to load up.

 

[JoshDance]

Quote from bigsnack:

If we are above 47.25's, buying pullbacks all the way!

I'm mildly concerned that it could not at least reach 53.50, but perhaps it just needs another go at it. Unless this pops up here, I will look to buy 47.75

 

[JoshDance]

Quote from Trvlwanderer:

keeping an eye on the eur/usd for a big drop. es may follow

Any particular reason?

 

[Laissez Faire]

Quote from Laissez Faire:

Sold 1157. 200 point stop.

Out @ 53,50.

Seems like the PPT decided it was enough for today

Will consider getting back in on a DAYTRADE if the current low of day is breached, although that looks highly unlikely from here.

If not, mojito time soon

PS: This particular trade was an attempt to catch a bigger swing, but it looks like I failed to do that, although I`m satisfied that I managed risk. 200 points was never a real stop of course. I knew with 97% certainty that I could at least get out with as little as a 10 point loss if wrong, so the R/R was there.

In the meanwhile, I`ve been scalping for 5-points on 10 contracts in my other account. Just kidding

 

[JoshDance]

Quote from JoshDance:

I'm mildly concerned that it could not at least reach 53.50, but perhaps it just needs another go at it. Unless this pops up here, I will look to buy 47.75

cancel order, could not quite make it down to get me.

 

[mastacoli71]

short 54, target 45

 

[bigsnack]

Got my pullback, now stop to b/e and let's see if thing melts faces! Either that or I'll get hammed on the reversal. I'm just going to let it go one way or the other. The daily chart thing has me interested to see if this thing can pop in the last hour.

 

[Laissez Faire]

Quote from bigsnack:

Got my pullback, now stop to b/e and let's see if thing melts faces! Either that or I'll get hammed on the reversal. I'm just going to let it go one way or the other. The daily chart thing has me interested to see if this thing can pop in the last hour.

Good luck on that trade

What if you draw a trend line on top of that flag instead?

 

[bigsnack]

Quote from Laissez Faire:

Good luck on that trade

What if you draw a trend line on top of that flag instead?

You are absolutely right, I see that too.

 

[Laissez Faire]

Failure at the 50% level. If the new trend line now breaks and we fail to trade above the 50, I think I`ll join the short side for a day trade.

The bears still remain in control for now and if we see some more volume coming into the close, we could be in for a ride

Conversely, taking out the 50% level with conviction, is probably good for a ride back to the daily highs.